Royal Philips NV has signed an agreement with Aerogen Ltd that includes a technology license and the acquisition of select assets solely related to Aerogen’s home-care business, according to an announcement from Philips.

The agreement will allow Philips to expand its range of home-care nebulizers and to gain access to Aerogen’s technology, an important component of advanced nebulizers for fast and precise drug delivery, according to the company.

“This agreement is a key enabler in the development and marketing of respiratory drug delivery solutions to manage patients in the home,” said Brent Shafer, CEO Home Healthcare Solutions at Philips Healthcare. “Inhalation therapy plays a key role in treating chronic respiratory problems and I believe that with Aerogen’s technology we are further expanding on our promise to improve people’s lives through meaningful innovation.”

Both companies are “committed to a seamless transition of Aerogen’s home-care nebulizer product range and customer base to Philips,” the release stated.

Aerogen’s acute-care and home ventilator drug delivery business remains unaffected. No employees will transfer to Philips as part of the agreement.

Financial details of the transaction were not disclosed.